PERQ announced the closing of a $5 million round of funding on Monday that it plans to use in expanding its artificial intelligence-based SaaS solution into additional industries.

Elevate Ventures led the funding, all of which is from investment groups and angel investors in Indianapolis, which is where PERQ is headquartered.

Joining Elevate in the round were Collina Ventures plus former T2 Systems executives, former ExactTarget chief marketing officer Tim Kopp and the co-founders of One Click Ventures.

PERQ specializes in online engagement and shopping behavior. It was launched in 2001 and its work has included automotive, among other industries.

 It had a $1.7 million funding round in 2016.

“This round is especially gratifying as it comes from over nine leaders in our community, the Indianapolis tech corridor – leaders who know how to recognize a game-changing technology when they see it,” PERQ co-founder and chief executive Andy Medley said in a news release.

“This investment will enable us to enter new industries that desperately need an easy-to-implement AI-driven solution that improves the consumer experience, drives traffic in-store and increases profits,” Medley said.

Elevate CEO Chris LaMothe said: “PERQ’s solution has a singular position in the market, there really is nothing else quite like it. PERQ is using AI to drive real, tangible results for retailers and businesses who, until now, have lacked an effective solution for making their websites’ intelligence meet that of their customers.

“PERQ’s business ethos, management and technology teams are top notch, and we are proud to join with other key members of the Indianapolis tech family in helping bring PERQ’s solution to a wider audience."